Open a Foreign Currency account or not?

[dizzylamb]

I'm new to all this ......I have my Dinars...would you advise me to keep the notes and exchange them in the bank or put them in the bank by opening a Foreign currency account which our bank says they can open and deposit my Dinars into... what would you advise?

[monabutler]

That is a really good question! I believe you should hold on to them and keep your records of authenticity with them. I think circulating them takes away from why we are being led to buy and cash in...... I could be wrong but i thought i would add to your question and maybe we will both be corrected?

[DHT31]

i would cash in only what you need initially then put the rest in a foreign currency acct as the value of the dinar is surely going to continue to go up over the next few years. It would stink to miss out on additional gains. Thats our plan! BTW, which bank do you use?

[dizzylamb]

Barclays here in the UK.....we just phoned and we have to go into the branch to open the account to be able to deposit Dinars.We have an existing current account with them.

Really wondering what others are doing with their Dinars

[warrengz]

i would cash in only what you need initially then put the rest in a foreign currency acct as the value of the dinar is surely going to continue to go up over the next few years. It would stink to miss out on additional gains. Thats our plan! BTW, which bank do you use?

Probably the way to go here! THX DHY31. But also look and see if you want to diversify into ISX and warka as Adam has recommended. He has details listed in the forum just search for em.

[sabahphilippines]

i think there is no foreign currency bank account in USA -- Philippines & UK have them

[valu]

ever bank in florida has multicurrency accounts.

[westy33567]

Ok what banks in florida handle foreign currencies, and which bank would give the best rate on your money?

[dino22]

this is a great forum all the info on this thread to me is outstanding.

[andymay28]

Dizzylamb,

I am also a UK based investor in the IQD, are you able to provide me with a contact number for the Barclays department that you called and what type of account did you open? Multi-currency I assume?

[mars]

Supposedly BB&T Banks in the south east states of the US and even in the Dallas area offer a dual currency account that you can deposit your Dinars into. A lady posted something about this back in late Jan. And for the bashers, no I have not checked into this as of yet, but I am.

[LT66]

I called chase, if you have an account there they will exchange it on the spot for up to date/current rate.

[Cherysh]

That is a really good question! I believe you should hold on to them and keep your records of authenticity with them. I think circulating them takes away from why we are being led to buy and cash in...... I could be wrong but i thought i would add to your question and maybe we will both be corrected?

Letter of Authenticity?? LOL...Mine came straight from Iraq, a little soldier friend went from Kuwait to Iraq to get it and then shipped it to me...think there will be problems with that??

[NotReallyTex]

I was considering opening a Warka but after reading this thread http://dinarvets.com/forums/showthread.php?15841-Iraq-seizing-American-accounts I decided not to. It scared the beejeebers out of me because it made me realize that something like that could totally happen. It's not just EWarka but anything from a foreign country. When we put our money in another country it is totally feasable they could take it. And don't expect the US to help you any because they won't even help kidnapped citizens, why should they help us get money that we were trying to keep from them in the first place?

JMHO

Edited March 29, 2010 by NoOneReally
spelling

[lanispaul]

I am very new to this, bought some dinar a couple of weeks ago. Can anyone tell me what is the major advantage to opening a Warka account?

[Catl6147]

I read a post yesterday that had a article attached. It stated that there is a new law that would cost you 30% on an offshore acct. Does anyone else know about this??

[ToddS]

There is an "Advanced search" button in the upper right hand corner of every forum page, if you click on it there are several methods to search the forum. You can enter a members name, a "Tag," "Keywords," and a few others you would like to search for and it will pull up multiple threads from any forum on the subject you are seeking information on. I am not telling you guys not to discuss this in this thread but there is a ton of good information on these subjects already in the forum.

[ReachingHigher]

A newbie question - per DHT31's comment about "cash in only what you need initially then put the rest in a foreign currency acct as the value of the dinar is surely going to continue to go up over the next few years. It would stink to miss out on additional gains."

If the RV happens and there is a deadline for cashing in the larger dinar notes - then how can we hold on to some for future gains in the dinar??

Thanks. Peace.

[Rafy]

I was considering opening a Warka but after reading this thread http://dinarvets.com/forums/showthread.php?15841-Iraq-seizing-American-accounts I decided not to. It scared the beejeebers out of me because it made me realize that something like that could totally happen. It's not just EWarka but anything from a foreign country. When we put our money in another country it is totally feasable they could take it. And don't expect the US to help you any because they won't even help kidnapped citizens, why should they help us get money that we were trying to keep from them in the first place?

JMHO

I totally agree with your statement. I will not thrust any foreing country. After reading about investments and securities and don't even thrust the FDIC, and that is most to say.

[leann29]

My husband and I opened an account with Warka and just wired the money from our credit union in the states into our Warka account, we have online access and what we have in our IQD savings account is what we have regardless if they do a lop... we keep every e-mail and transaction just in case anything should happen and I print our statements out about once a week. I think it's also a good idea to open up an account because the interest rate isn't bad either and it will eventually RV...just a matter of time.